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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

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Miami Businessman Charged With Hiding Millions in Swiss Bank Accounts, Evading Taxes

CPA Practice

government by hiding millions of dollars in Swiss bank accounts and lying to the IRS about his foreign assets for decades, according to federal authorities. Prosecutors said in Miami federal court Tuesday that Rotta owes $26 million in taxes, interest and penalties dating back to 2001 and has $38.5 But then in U.S.

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Utah Accounting Firm and Dudes Who Work There Busted For ERC Fraud

Going Concern

TL;DR Two guys and their accounting firm are accused of filing false tax returns and a touch of COVID relief fraud. Read: A federal grand jury returned an indictment on Feb. 1 charging two Utah County men and an accounting firm with claiming an excess of $11 million in tax credits through a COVID-related fraud scheme.

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Avalara Gives Update on Online Marketplace and Tax Changes in 2024

CPA Practice

By 2027, marketplaces may account for 59% of ecommerce globally. Utah will likely do the same in 2025. Remit sales tax to the proper tax authority Once sales tax has been collected as required, it must be remitted on time with a sales tax return to the proper tax authority. By Gail Cole.

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Heads Up! Payroll Changes Coming in July

ThomsonReuters

Beginning July 1, new forms will be used to report withholding tax. Form TRD-41414, Wage Withholding Tax Return, will be used to report withholding from payments to employees. Form TRD-41409, Non-Wage Withholding Tax Return, will be used to report withholding from non-wage payments. New Mexico. South Dakota.

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Mastering Form 2553: Unlocking the Benefits of S Corp Tax Election

inDinero Tax Tips

S-corps can save on taxes because their taxable income is taxed only once. The owners of an S corp report income or losses on their personal tax returns, which are taxed at individual tax rates, not corporate rates. Furthermore, the business is allowed to have only one class of stock.

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Sales tax and nonprofits

TaxConnex

Any sales tax exemption for a nonprofit depends on the transaction’s relation to the organization’s main mission. Location, location, location 501(c)(3) organizations are exempt from sales tax on their purchases in Colorado and in Utah. Most states, like Michigan , require special registration for exemption.

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